Berry Global Group, Inc. (NYSE:BERY) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. cut its stake in Berry Global Group, Inc. (NYSE:BERY - Free Report) by 25.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 20,967 shares of the industrial products company's stock after selling 7,285 shares during the period. PNC Financial Services Group Inc.'s holdings in Berry Global Group were worth $1,425,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Virtu Financial LLC bought a new stake in Berry Global Group during the first quarter valued at about $691,000. Allspring Global Investments Holdings LLC increased its stake in Berry Global Group by 4.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 835,334 shares of the industrial products company's stock worth $56,786,000 after buying an additional 37,242 shares in the last quarter. Mercer Global Advisors Inc. ADV boosted its stake in shares of Berry Global Group by 370.0% in the second quarter. Mercer Global Advisors Inc. ADV now owns 114,868 shares of the industrial products company's stock worth $6,760,000 after acquiring an additional 90,428 shares during the period. Savant Capital LLC purchased a new position in Berry Global Group in the 2nd quarter worth approximately $573,000. Finally, Victory Capital Management Inc. boosted its position in shares of Berry Global Group by 79.5% during the second quarter. Victory Capital Management Inc. now owns 69,899 shares of the industrial products company's stock worth $4,114,000 after acquiring an additional 30,949 shares during the last quarter. Institutional investors own 95.36% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Barclays increased their target price on Berry Global Group from $64.00 to $75.00 and gave the company an "equal weight" rating in a research report on Wednesday. Royal Bank of Canada raised their target price on shares of Berry Global Group from $69.00 to $73.00 and gave the stock a "sector perform" rating in a report on Thursday, November 21st. Morgan Stanley assumed coverage on Berry Global Group in a research note on Wednesday, September 4th. They set an "equal weight" rating and a $76.00 price target for the company. Truist Financial reiterated a "hold" rating and issued a $72.00 price target (down previously from $74.00) on shares of Berry Global Group in a report on Wednesday, November 20th. Finally, JPMorgan Chase & Co. reissued an "overweight" rating and set a $76.00 price objective (up from $70.00) on shares of Berry Global Group in a report on Monday. Nine investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, Berry Global Group currently has an average rating of "Hold" and a consensus target price of $73.73.

Insider Buying and Selling at Berry Global Group

In other news, Director Evan Bayh sold 14,000 shares of the business's stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $70.13, for a total transaction of $981,820.00. Following the completion of the sale, the director now owns 30,228 shares in the company, valued at approximately $2,119,889.64. The trade was a 31.65 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 4.00% of the stock is owned by insiders.

Berry Global Group Price Performance

Shares of BERY traded up $0.84 during mid-day trading on Wednesday, hitting $71.57. The company's stock had a trading volume of 2,053,625 shares, compared to its average volume of 1,089,458. The company has a current ratio of 0.41, a quick ratio of 0.26 and a debt-to-equity ratio of 2.57. Berry Global Group, Inc. has a 1-year low of $54.06 and a 1-year high of $73.31. The firm has a 50-day simple moving average of $68.37 and a 200 day simple moving average of $64.60. The firm has a market capitalization of $8.20 billion, a P/E ratio of 16.30, a P/E/G ratio of 1.42 and a beta of 1.14.

Berry Global Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a dividend of $0.31 per share. This is an increase from Berry Global Group's previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.24 annualized dividend and a yield of 1.73%. Berry Global Group's dividend payout ratio (DPR) is presently 25.06%.

Berry Global Group Company Profile

Berry Global Group, Inc manufactures and supplies non-woven, flexible, and rigid products in consumer and industrial end markets in the United States, Canada, Europe, and internationally. The company operates through Consumer Packaging International; Consumer Packaging North America; Engineered Materials; and Health, Hygiene & Specialties segments.